The major news in the biotech sector in the last five trading sessions include the FDA's refusal to file letter for Celgene Corporation's (CELG) ozanimod while Gilead Sciences, Inc.'s (GILD) announced an agreement with Sangamo Therapeutics.

Vertex Pharmaceuticals said Wednesday that the first late-stage trial of a potentially groundbreaking cystic fibrosis drug will be shorter than expected, prompting one analyst to forecast a possible FDA approval as early as the end of next year. Boston-based Vertex (VRTX) said after markets closed on Wednesday that it had launched the first of several Phase 3 studies of a “triple combination” treatment for cystic fibrosis. In a note on Thursday, Leerink Partners analyst Geoffrey Porges said he previously expected the FDA would require four to six months of safety data in a “best-case scenario” for the company, resulting in a possible approval in early 2020.

This could indicate that investors who seek to profit from falling equity prices are not currently targeting VRTX. Over the last one-month, outflows of investor capital in ETFs holding VRTX totaled $1.05 billion.

Vertex Pharmaceuticals has unveiled promising findings from a study of one of its experimental drugs — only this time, the treatment doesn’t target cystic fibrosis. Boston-based Vertex (VRTX), which largely focuses on the lung disorder, said Wednesday that its non-opioid medicine for pain had performed well in a mid-stage study. Patients who received the drug, called VX-150, following surgery to remove bunions reported significant pain relief compared to those on placebo, according to the company.